Other dictionaries, just as reputable, do not mark the word as "Slang." At the most (Collins), it is informal. Nor do those dictionaries indicate that the meaning must be the whole
truth (and nothing but the truth).
true facts or relevant information
inside facts, dope
information, esp. secret or true
correct information or details
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The true facts or relevant information about something:you get the low-down on where to go and where to stay away from
: the inside facts : dope gave us the lowdown on the situationhave you heard the lowdown on the new chairman of the department?
information, esp secret or true information
Correct information or details: "It's hard not to read this book as a riposte of sorts, although anyone expecting the low-down on the judging process ... will be disappointed
" (Tom Shone).